Sonoco Products Company (NYSE:SON) Receives $54.43 Consensus PT from Brokerages

Shares of Sonoco Products Company (NYSE:SON) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $55.7143.

Several analysts have recently issued reports on the company. Truist Financial decreased their price objective on Sonoco Products from $58.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, October 13th. UBS Group lowered their price objective on shares of Sonoco Products from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Citigroup dropped their price objective on shares of Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, October 8th. Finally, Bank of America raised shares of Sonoco Products from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $60.00 in a report on Monday.

Sonoco Products Stock Up 3.0%

Shares of SON stock opened at $45.69 on Friday. The company’s fifty day simple moving average is $41.75 and its two-hundred day simple moving average is $43.83. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $50.09. The stock has a market cap of $4.51 billion, a P/E ratio of 7.25, a PEG ratio of 0.77 and a beta of 0.55. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%.The firm had revenue of $1.35 billion for the quarter. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. Analysts predict that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, November 10th. Sonoco Products’s dividend payout ratio (DPR) is presently 33.65%.

Insider Buying and Selling

In related news, Director John R. Haley bought 2,506 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average price of $39.87 per share, with a total value of $99,914.22. Following the transaction, the director owned 23,310 shares in the company, valued at $929,369.70. This trade represents a 12.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Joachimczyk purchased 20,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average price of $39.50 per share, for a total transaction of $809,750.00. Following the acquisition, the chief financial officer directly owned 20,500 shares in the company, valued at $809,750. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sonoco Products

Several institutional investors have recently made changes to their positions in SON. AQR Capital Management LLC grew its holdings in Sonoco Products by 357.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock valued at $90,693,000 after purchasing an additional 1,654,576 shares during the last quarter. Norges Bank purchased a new position in shares of Sonoco Products during the second quarter valued at approximately $53,618,000. Nordea Investment Management AB grew its stake in shares of Sonoco Products by 70.1% during the second quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company’s stock valued at $122,914,000 after buying an additional 1,164,849 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Sonoco Products by 739.7% in the first quarter. Millennium Management LLC now owns 1,152,506 shares of the industrial products company’s stock worth $54,444,000 after buying an additional 1,015,250 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Sonoco Products by 105.6% during the 3rd quarter. LSV Asset Management now owns 798,800 shares of the industrial products company’s stock worth $34,420,000 after acquiring an additional 410,200 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.